Tuesday, February 2, 2010

Taxes


I did our taxes today. As much as I loath the accounting parts of life, I'm getting better at it. I remember the first time I worked on the federal taxes when we were brand new newly weds. I thought we had to pay $4000. I was devastated since that comprised our entire savings--slotted to be a house down payment. After a few hours, I went back and looked carefully at each line. Wait, what is this "Standard Deduction?" We only had to pay around $200. Much, much better.


Over the next few years, I memorized the tax code. We have had mortgage interest, retirement savings, educational expenses, a small business, a lot of children, property taxes, moving expenses, charitable donations and other caveats to keep it new and exciting. One year, between the two of us, we had six part-time jobs (including the small business rigamarole) and a new baby. Another time we rolled over an IRA, sold and bought homes and cars, started school, had a baby and moved. Now that we've been in school for a while, we've used up all of our education credits, we don't have much to itemize, and only three W-2's showed up. I was done in one hour. One hour!


Yet another great thing about our current, simple lives.

1 comment:

  1. So you have another child full of personality... is she going to do your taxes someday?

    ReplyDelete